Norwegian Krone Rallies Despite Slowing Economic Growth

The Norwegian krone rallied against the US dollar today even as Norway’s economic growth slowed.
Statistics Norway reported that the nation’s economy demonstrated growth by 0.6% in the period between December and February, down from 0.9% in the previous reporting period. The sharp decrease in the production of electricity was the main reason for the slowdown. Now, traders wait for inflation data due for release tomorrow.
USD/NOK fell from 8.5434 to 8.5258 as of 12:36 GMT today.

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